Morgan Keegan Maintains Its Outperform Rating On Health Care REIT (HCN)

Morgan Keegan is out with a report this morning, where it maintains its “outperform” rating on shares of Health Care REIT (HCN). The company plans to release second quarter earnings after the market close next Wednesday, August 4. In the report, Morgan Keegan writes, “Our FFO/share estimate of $0.79 is in line with the First Call consensus and down from $0.80 in the prior year period. Our FAD/share estimate is $0.74, $0.01 below the SNL consensus.” Analysts added, “We believe that Health Care REIT can sustain 5% FFO growth long-term through internal growth, accretive acquisitions, and facility development. Our investment thesis calls for accretive new investments driving higher earnings, yielding a higher share price absent multiple expansion.” Analysts expect for Health Care REIT to be one of the more aggressive acquirers over the remaining months of 2010. Shares of HCN started the day trading at $45.08.